Yahoo Finance Singapore gets 20 proposals for low-carbon power from its neighbours
By Ann Koh and Dan Murtaugh
(Bloomberg) — Singapore received 20 proposals to supply it with low-carbon electricity from overseas in what could be a test case for the ability of small countries to access green power.
The Energy Market Authority got bids for supply from Indonesia, Malaysia, Thailand and Laos in response to a tender that sought 1.2 gigawatts of lower-carbon electricity imports starting in 2027, it said in an emailed response to questions. The types of power include solar, wind, geothermal and hydro, it said.
Singapore — which currently generates 95% of its electricity from natural gas — wants to decarbonise its power mix but its tiny land area means it has few domestic options. It’s being forced to look offshore instead, and is aiming to bring in around 30% of its electricity by 2035.
The plan got off to a rocky start last year when neighbouring Malaysia banned exports of renewable electricity to prioritise its own efforts to decarbonise. Talks are also underway on building an undersea cable to bring in solar power from the north of Australia, and the city-state is keeping its options open on nuclear energy.
The EMA described the response to its tender as “strong.” The deadline for final submissions is in mid-June and the results will likely be announced in the fourth quarter. It’s unclear what will happen to the proposals from Malaysia, given the country’s ban.
© 2022 Bloomberg L.P.
